NFT market is vulnerable to money laundering, according to US Treasury study of the art trade

The NFT market, according to the report, generated $1.5bn in trading in the first three months of 2021 and grew 2,627% over the previous quarter. But despite the possibility of money laundering in both the blockchain-based and traditional art markets, the Treasury came down against enacting new regulations on the art market and suggested focusing instead on root causes and vulnerabilities.

Source: The Art Newspaper – International art news and events

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